"This is a really good crash diet from a financial standpoint," Conroy says. People often intend to trim their budgets but never get around to it. Current circumstances are giving families no choice but to make these hard decisions right now.
“The solo K has very high and flexible contribution limits, typically allowing more contributions than SEPs, traditional IRAs and Roth IRAs or SIMPLEs,” says Joe Conroy, CFP and founder of Harford Retirement Planners in Bel Air, Maryland.
Joe Conroy, an independent certified financial planner with Harford Retirement Planners in Bel Air, Md., with more than $100 million in assets under management, has a couple who are clients and who fit that bill. The couple was referred to Conroy by their accountant who thought their lucrative financial situation could benefit from his guidance.
There are several ways grandparents can help pay for a grandchild’s education without giving money directly to the student. It’s crucial that grandparents, parents and students understand each of the options before deciding which one may be appropriate for them.
RETIREMENT IS A TIME TO pursue new passions, says Lisa Odoski, vice president and partner for advisory firm TFG Wealth Management in Newtown, Pennsylvania. "It's the second phase of your life. It's the best one," she says.
We are in the midst of a changing definition of retirement. No longer does retirement evoke images of gently rocking on the front porch, waving at the neighborhood boys as they speed by on their bikes during the day, then yelling at them to get off your lawn at night. Is it any surprise that the active generation – the baby boomers – have rejected the quiet life of traditional retirement?
